Question

Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio...

Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Ben Supple, an importer in Brownsville, has just received a shipment of Peruvian opals that he is pricing for sale. He paid $170 for the shipment. Assume he wants a 66% markup.


Calculate the selling price when the markup is based on selling price?
A: ?

Calculate the selling price when the markup is based on cost?

A: $282.20
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Ans 1
Cost = 170
Lets assume selling price be x
therefore X-170 = 66% of X
X-66% of X = 170
X = 170/(1-66%)
X= 500
Ans = $                    500.00
Ans 2 Selling price = 170*(1+66%)
$                    282.20
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Question: 1. The largest expense category on the income statement of most merchandising companies​ is: A....
Question: 1. The largest expense category on the income statement of most merchandising companies​ is: A. s... 1. The largest expense category on the income statement of most merchandising companies​ is: A. selling expenses B. administrative expenses C. other expenses D. cost of goods sold 2.Using a perpetual inventory​ system, which of the following entries would record the cost of merchandise sold on​ credit? A. Debit Inventory and credit Cost of Goods Sold B. Debit Cost of Goods Sold and...
1. The largest expense category on the income statement of most merchandising companies​ is: A. selling...
1. The largest expense category on the income statement of most merchandising companies​ is: A. selling expenses B. administrative expenses C. other expenses D. cost of goods sold 2.Using a perpetual inventory​ system, which of the following entries would record the cost of merchandise sold on​ credit? A. Debit Inventory and credit Cost of Goods Sold B. Debit Cost of Goods Sold and credit Purchases C. Debit Cost of Goods Sold and credit Inventory D. Credit Sales and debit Accounts...
Universal Comics Limited (Universal) is a publisher of purely Canadian comic books and owns the exclusive...
Universal Comics Limited (Universal) is a publisher of purely Canadian comic books and owns the exclusive rights to all its characters. Universal’s newest character released two years ago, Ridgeback Man, a local private investigator with heightened canine abilities, has been well received by comic book fans in the Toronto region. The current founder and owner Lan Stee has been offered a once in a lifetime opportunity to be the COO, Chief Operation Officer, of DeeCarvel Comics, the world’s largest comic...
  Canadian Whisky: Capitalizing on World Recognition A Thirst for More Rick Clemens opened an independent whisky...
  Canadian Whisky: Capitalizing on World Recognition A Thirst for More Rick Clemens opened an independent whisky distillery 15 years ago in a small town in British Columbia, Canada. Since that day, his business has slowly grown, gaining first a local, then regional and finally national following. It has since grown from a two-person operation to a thriving business with an in-house team of six and the contracted services of an off-site bottler and distributor. After many years of operating at...
Merck, AIDS, and Africa Written July 2001, Revised October 23, 2003 Merck was being pilloried in...
Merck, AIDS, and Africa Written July 2001, Revised October 23, 2003 Merck was being pilloried in the international press. The issue? Its role in AIDS crisis in Sub-Saharan Africa, where the price of AIDS treatments far exceeded patients’ ability to pay. The fallout from public opinion threatened not only Merck’s valued reputation, but the international system of prices and intellectual property rights on which Merck’s business was based. The Pharmaceuticals Industry The pharmaceuticals industry is known for its enormous investments...
Question 61 Cal plans to open a small business marketing consulting firm operating as a corporation....
Question 61 Cal plans to open a small business marketing consulting firm operating as a corporation. He signed an office lease with landlord as Marketing Priorities, Inc. prior to incorporating the business. Shortly thereafter, he gave up the consulting idea and took a job teaching. Is Cal personally liable on the lease? ? Question 62 The principal of a company co-mingled his business expenses and personal expenses. That is, he used business profits to pay his ex-wife’s alimony. When the...
What role could the governance of ethics have played if it had been in existence in...
What role could the governance of ethics have played if it had been in existence in the organization? Assess the leadership of Enron from an ethical perspective. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt...
Discuss ethical issues that can be identified in this case and the mode of managing ethics...
Discuss ethical issues that can be identified in this case and the mode of managing ethics Enron finds itself in this case. How would you describe the ethical culture and levels of trust at Enron? Provide reasons for your assessment. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events...
Discuss how the respective organizations’ relations with stakeholders could have potentially been affected by the events that took place at Enron and how the situation could have been dealt with differently to prevent further damage? THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies,...
Argentina and Ecuador: Understanding the Currency Crisis While fiscal policy is never far from the mind...
Argentina and Ecuador: Understanding the Currency Crisis While fiscal policy is never far from the mind of your average Argentine, who remembers the tough times and hyperinflation of the 1980s, the events of 2001 and 2002 have brought fiscal policy back to the forefront of public concern. Though the early 1990s may have been characterized by financial optimism, Argentina has been in a recession since Brazil's 1998 monetary crisis sent shockwaves across the regional and global markets. In early 2002,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT